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Strategies & Market Trends : Asia Forum
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To: B Tate who wrote (2216)2/17/1998 3:53:00 AM
From: tom  Read Replies (1) of 9980
 
I don't know if you're referring to Telecom Asia in Thailand but if you are I wanted to let you know that they don't earn any hard currency. All their revenue is in Baht as they don't do any international business. In its current form the company is bankrupt and will need either huge tariff increases or a debt restructuring to make it a viable company again.

On a more important subject I couldn't agree with you more on the IMF/Asia arguments.

On the one hand the IMF (which is essentially run by the Federal Reserve) is saying it cares about the social problems in these countries but on the other hand it is insisting that they carry on with their purchases of military equipment and aircraft from the US. Millions will starve in Indo and I don't think they'll be comforted by the fact that their country owns 20 more F-16s. Unfortunately, the leaders of Asia aren't that much better. Suharto could have prevented this whole mess by just being less selfish about his family's interests. As usual the ordinary people suffer.
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